Popular (NASDAQ:BPOP) Price Target Cut to $100.00

Popular (NASDAQ:BPOPGet Rating) had its price objective reduced by UBS Group to $100.00 in a report released on Wednesday, Stock Target Advisor reports.

A number of other research analysts have also recently issued reports on the company. StockNews.com raised Popular from a hold rating to a buy rating in a research note on Friday, November 11th. Piper Sandler cut their price target on Popular to $90.00 in a report on Tuesday, November 1st. Wells Fargo & Company cut their price target on Popular from $95.00 to $80.00 and set an overweight rating on the stock in a report on Thursday, October 27th. Finally, Royal Bank of Canada cut their price target on Popular from $91.00 to $80.00 in a report on Thursday, October 27th.

Popular Trading Up 0.0 %

NASDAQ:BPOP opened at $69.40 on Wednesday. Popular has a 1 year low of $65.47 and a 1 year high of $99.49. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 5.05 and a beta of 0.85. The stock has a 50-day moving average price of $72.90 and a two-hundred day moving average price of $76.62.

Popular Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Wednesday, December 7th will be issued a dividend of $0.55 per share. The ex-dividend date is Tuesday, December 6th. This represents a $2.20 annualized dividend and a yield of 3.17%. Popular’s payout ratio is presently 16.01%.

Insider Buying and Selling

In related news, VP Jorge J. Garcia sold 1,383 shares of the company’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $80.22, for a total transaction of $110,944.26. Following the sale, the vice president now owns 9,299 shares in the company, valued at $745,965.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Carlos J. Vazquez sold 9,635 shares of the company’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $80.38, for a total transaction of $774,461.30. Following the sale, the chief financial officer now owns 118,015 shares in the company, valued at $9,486,045.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jorge J. Garcia sold 1,383 shares of the company’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $80.22, for a total value of $110,944.26. Following the sale, the vice president now owns 9,299 shares in the company, valued at approximately $745,965.78. The disclosure for this sale can be found here. 1.88% of the stock is currently owned by corporate insiders.

Institutional Trading of Popular

Institutional investors and hedge funds have recently bought and sold shares of the business. Swiss National Bank raised its stake in Popular by 6.2% in the first quarter. Swiss National Bank now owns 188,800 shares of the bank’s stock valued at $15,433,000 after buying an additional 11,100 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Popular in the second quarter valued at approximately $1,389,000. OneAscent Wealth Management LLC bought a new stake in Popular in the first quarter valued at approximately $396,000. GSA Capital Partners LLP raised its stake in Popular by 148.6% in the first quarter. GSA Capital Partners LLP now owns 11,717 shares of the bank’s stock valued at $958,000 after buying an additional 7,004 shares during the period. Finally, Martingale Asset Management L P raised its stake in Popular by 216.7% in the first quarter. Martingale Asset Management L P now owns 345,297 shares of the bank’s stock valued at $28,226,000 after buying an additional 236,267 shares during the period. Institutional investors own 91.48% of the company’s stock.

Popular Company Profile

(Get Rating)

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and British Virgin Islands. The company provides savings, NOW, money market, and other interest-bearing demand accounts; non-interest bearing demand deposits; and certificates of deposit.

Further Reading

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